In May 2012, Saxo Bank acquired 89.54% of Değer Menkul Değerler, a local broker with a securities license. The new branch will support and grow Saxo Bank’s existing institutional client base, offering access to Turkish markets as well as providing Turkish investors with access to international financial markets.

The head of the new office is Egemen Kaya, previously Head of Emerging Markets and Precious Metals Desk at Saxo Bank’s headquarters in Denmark. Mr. Kaya commented:

“With the new stock exchange structure, Borsa Istanbul, improving technological infrastructure as well as newly established single stocks options market, Turkey has begun to demonstrate to the rest of the world its capabilities and investment potential. Low inflation and interest rates are present in Turkey, and Saxo Bank anticipates an increasing number of Turkish investors to ask for a broader range of international market products such as Forex, international stocks, futures and options. By having a presence in this young and buoyant market, Saxo Bank and its Turkish subsidiary Saxo Capital Markets Menkul Değerler are now positioned well to facilitate these demands.”

Kim Fournais and Lars Seier Christensen, founders and CEOs of Saxo Bank, said in a joint statement:

“The opening of the new office in Istanbul is another milestone in Saxo Bank’s history and global expansion. Turkey has for many years been tremendously important to Saxo Bank and presents an excellent opportunity for us with its increasingly expanding financial market. Istanbul has the potential to become one of the leading financial centres in the world, and our own presence there will enable us to add direct value for Turkish investors and fully support them with their diverse trading requirements.”

Saxo Bank is a leading online trading and investment specialist, offering private investors and institutional clients a complete set of tools for their trading and investment strategies. A fully licensed and regulated European bank, Saxo Bank enables clients to trade FX, CFDs, ETFs, Stocks, Futures, Options and other derivatives via three specialised and fully integrated multi-asset trading platforms; the browser-based SaxoWebTrader, the downloadable SaxoTrader and the SaxoTrader app. The platforms are available in over 20 languages and are white-labelled by more than 100 major financial institutions worldwide. Saxo Bank also offers professional portfolio and fund management as well as traditional banking services through Saxo Privatbank. Founded in 1992, the Saxo Bank Group is headquartered in Copenhagen with 23 local offices throughout Europe, Asia, Middle East, Latin America, Africa and Australia.